Various types of shoes having telescopic heels are known in the prior art. However, what is needed is a shoe with a height-adjustable heel including a heel having a first heel member fixedly attached to the sole and a second heel member telescopically disposed within the first heel member which is operated by a hydraulic pump disposed in the first heel member and a pump lever, pivotally disposed on a rear wall of the first heel member, by which the hydraulic pump is activated to extend and retract the second heel member to respectively lengthen and shorten the heel and which also includes a twist-lock valve mechanism in a heel tip that controls the passage of air into the hydraulic pump.